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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 12/26/2007
DVN (Devon Energy--$90.82; -0.96; optionable): Independent oil and gas
http://biz.yahoo.com/p/d/dvn.html
EARNINGS: 2-6-07
STATUS: Reverse head and shoulders. Broke higher last Friday on strong volume, but it was expiration so . . . Anyway, Nice break higher over the early December peak, setting up the next run higher and the breakout from its 9 week base that will take it to a new all-time high. Faded back Wednesday, tapping at the early December closing high. Looking for it to hold there and then make the break higher once more to give us the entry point.
Volume: 2.21M Avg Volume: 3.545M
BUY POINT: $92.24 Volume=4.4M Target=$105.95 Stop=$89.91
POSITION: DVN DR - Apr. $90c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/dvn.html
Play Date: 12/26/2007
GIGM (Gigamedia--$20.23; -0.32; optionable): Online gaming software
http://biz.yahoo.com/p/g/gigm.html
EARNINGS: Mid-February
STATUS: Ascending base. GIGM is making higher lows off the mid-November bottom of its 8 week base. Making higher and higher lows off the 90 day SMA (18.18), this time making a higher low above the 50 day EMA, tapping the 10 day EMA on the Wednesday low and rebounding nicely. After this higher low we are expecting the breakout move. Just waiting for it to show itself.
Volume: 897.071K Avg Volume: 1.387M
BUY POINT: $20.91 Volume=2M Target=$25.22 Stop=$19.45
POSITION: GBU DD - Apr.$20c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/gigm.html
Play Date: 12/26/2007
GSOL (Global Sources Ltd.--$31.47; +1.08; no options): Business to business advertising media company in China
http://biz.yahoo.com/p/g/gsol.html
EARNINGS: mid-February
STATUS: Ascending base. Making higher lows off the 50 day EMA (29.11), setting up the break higher from its 9 week base. It is looking for a new high with a breakout and run higher. Excellent money flow is moving higher ahead of price. Top stock in terms of earnings growth rates. Looking for additional volume as it continues the move up off the 50 day.
Volume: 283.053K Avg Volume: 402.325K
BUY POINT: $31.68 Volume=550K Target=$37.95 Stop=$29.78
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/gsol.html
Play Date: 12/26/2007
JNPR (Juniper Networks--$34.49; +0.12; optionable): PC networking hardware
http://biz.yahoo.com/p/j/jnpr.html
EARNINGS: Third week January
STATUS: Cup w/handle. JNPR is working on the handle to its 11 week base, pulling back to test the 90 day SMA (33.81) this week after breaking through the 90 day last week. Nice, patient base, setting up the next breakout move. Been awhile since we looked at JNPR and it is setting up nicely and getting some big buying in it.
Volume: 3.099M Avg Volume: 8.635M
BUY POINT: $35.05 Volume=12M Target=$41.95 Stop=$33.68
POSITION: JUP DZ - Apr. $32.50c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/jnpr.html
Play Date: 12/26/2007
ONXX (Onyx Pharmaceuticals--$58.49; +1.56; optionable): Biotechnology
http://biz.yahoo.com/p/o/onxx.html
EARNINGS: Early February
STATUS: Flat base. A good upside push Wednesday as ONXX looks to be in the hunt for a breakout from its 7 week base formed using near support at the 18 day EMA (55.95) on the lows (with a quick test down to the 50 day EMA intraday last week). It is taking a pause after breaking to a new high when it took out the 2004 highs. Looks to be nearing the end of this consolidation and ready to move in as it makes the break.
Volume: 736.86K Avg Volume: 1.223M
BUY POINT: $59.15 Volume=1.8M Target=$70.95 Stop=$56.45
POSITION: OIQ BL - Feb. $60c (49 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/onxx.html
New buy point on current position:
Play Date: 12/26/2007
BG (Bunge Ltd.--$119.13; +1.00; optionable): Fertilizer, Soybeans
http://biz.yahoo.com/p/b/bg.html
EARNINGS: 2-7-07
STATUS: Test 18 day EMA. BG is working laterally over the 18 day EMA (117.43), holding that near support the past week as it tested back from the early December breakout surge. Like that it is holding this near support level and the breakout. All we need is another strong break higher to give us the next entry point.
Volume: 743.462K Avg Volume: 1.299M
BUY POINT: $120.31 Volume=1.4M Target=$138.65 Stop=$117.38
POSITION: BG DD - Apr. $120c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/bg.html
CONTINUING PLAYS:
Play Date: 12/22/2007
CMED (China Medical Technologies--$43.95; -0.02; optionable): Chinese medical instruments
http://biz.yahoo.com/p/c/cmed.html
EARNINGS: Third week of January
STATUS: Reverse head and shoulders. Nice doji over the 10 day EMA as CMED continues laterally on low volume, setting up for the break higher out of its 9 week base. China is starting to move higher again, and CMED is strong China-based stock. To recap: After another test toward the 90 day SMA (39.72) to start last week, CMED rebounded to continue the work on its 11 week base. Not a lot of volume on the week as it rebounded, but still a solid pattern and we are looking for CMED to test briefly above the 10 day EMA (42.76) and then to break higher. Want to see volume bump up a bit on that move and then we step in.
Volume: 138.805K Avg Volume: 629.288K
BUY POINT: $44.05 Volume=1M Target=$54.95 Stop=$41.94
POSITION: QCY CI - Mar. $45c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/cmed.html
Play Date: 12/22/2007
EDU (New Oriental Education & Tech--$84.06; +1.61; optionable): Chinese education and training services
http://biz.yahoo.com/p/e/edu.html
EARNINGS: Mid-January
STATUS: Ascending base. Big bounce Friday, taking a breather this week as EDU works laterally on lower trade. Nice higher low last week, nice pause here after the bounce. It is ready; just has to show the move. To recap: EDU ended the week with a bounce off the 50 day EMA (75.51). This is the second bounce off of this level during its 10 week base, making a higher low as it did. Can run like a deer when it gets rolling, and looking at positions as EDU continues the bounce off the 50 day.
Volume: 205.173K Avg Volume: 616.854K
BUY POINT: New: $84.32 (orig. $83.88) Volume=700K Target=$99.95 Stop=$79.92
POSITION: EDU DQ - Apr. $85c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/edu.html
Play Date: 12/12/2007
HUM (Humana--$76.50; -0.59; optionable): Health care plans
http://biz.yahoo.com/p/h/hum.html
EARNINGS: 2-4-07
STATUS: Ascending base. Bounced off the 50 day EMA last week and is currently testing that move, tapping at the 10 day EMA (75.85) on the Wednesday low and rebounding to recoup some losses. Nice test that held near support and looking for a break higher to give us the buy point. Adjusted it to take into account the test.
Volume: 876.5K Avg Volume: 1.601M
BUY POINT: New: $77.55 (orig $75.77) Volume=2.4M Target=$88.95 Stop=$74.39
POSITION: HUM BO - Feb. $75c (68 delta) &/or Stock
http://www.investmenthouse.com/ct/hum.html
Play Date: 12/20/2007
NVDA (Nvidia--$36.26; +0.48; optionable): Graphics cards
http://biz.yahoo.com/p/n/nvda.html
EARNINGS: Early February
STATUS: Cup w/handle. Continued higher Wednesday on a bit better volume, clearing the early December high. If it can hold the move and continue, it is a buy. To recap: Great runner for us in 2007, its last run taking it from mid-August to mid-October and covering 9 points. Not bad for $30 stock. It needed a break and it has consolidated and formed a nice 9 week base. It rallied higher through the first week of December and has since moved laterally, using the market selling to form its handle at the 50 day EMA and the 90 day SMA. Like how it did not really selling during the last sell off, instead moving laterally; no one wanted to sell it. Thursday it gapped higher though volume lagged. It is a large cap tech, and it has set up to break higher and take the torch if technology is going to lead for awhile once more. Just want to see a bit more volume as it makes the move. Nice.
Volume: 5.379M Avg Volume: 12.082M
BUY POINT: New: From here (orig. $35.57) Volume=14M Target=$41.65 Stop=$33.98
POSITION: UVA CG - Mar. $35c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/nvda.html
Good Investing!
Jon L. Johnson and your Technical Traders Report Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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us stock market
stock recommendation
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